Noteworthy quotes from the week's stories, including Hyatt's Mark Hoplamazian on Taylor Swift impacting GDP growth.
QUOTE OF THE WEEK
“I still believe someone should do the math. I think [Taylor Swift] contributed
a couple hundred basis points to global GDP this year. I’m not kidding. It’s
incredible. She had a much bigger impact on Hyatt than the Olympics in Paris
did.” – Mark Hoplamazian, Hyatt Hotels Corp.
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“We will figure out a way to recapitalize the fund and
provide liquidity to investors who want to leave sometime around year six.
Those who want to stay on with us will roll over and stay for another five to
nine years, and those who want out will be provided liquidity. The process will
repeat itself several more times. I see us being here [Florida's Space Coast] for a very long time.” –
Carlos Rodriguez, Sr., Driftwood Capital
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“We have relatively strong conviction that transaction
activity will meaningfully accelerate in the coming months driven by falling
global debt costs – we’ve already seen the positive impact this had across
Europe and parts of Asia and expect to see similar in the U.S. following the
Fed’s anticipated upcoming moves.” – Zach Demuth, JLL Read story
“The economic toll of this bill will reverberate for years,
forcing hotels to lay off hard-working staff, raise rates, and even permanently
close. This is not a licensing or safety bill. It’s a government takeover of
New York City hotels, and we will not stop fighting until it’s defeated.” –
Kevin Carey, AH&LA Read story
“We are finalizing our joint venture partnership with the
domestic operator which already has experience in the space, and this will
allow us to access more pipeline [in Japan]. In the meantime, we are using our network to
accumulate assets one by one… It’s a highly unsophisticated market because most
ryokans are owned by individual owners, unlike in Australia where you can buy a
portfolio to start with.” – Rahul Ghai, Salter Brothers Read story
“The proposed moratorium is an interesting step to address
the challenges of overdevelopment and infrastructure strain in South Bali. By
reassessing zoning and diversifying tourism across the island, Bali can ensure
that future growth is sustainable and inclusive.” – Pierre Marechal, JLL Read story
“COVID and the [country’s] internal political upheaval
strengthened our resolve even more. Sri Lanka is a unique destination. The
warmth, cheerfulness and resilience of the people cannot be taken away.” –
Hiran Cooray, Jetwing Symphony, The Lighthouse Hotel Read story